By CHARLES FORELLE and MARCUS WALKER
The Wall Street Journal
…
The consequence was that a crisis in a few small economies turned into a threat
to the survival of Europe 's common currency
and a menace to the global economy…
… Greece 's
bondholders would be required to lend more money…
… France 's banks had lent more heavily than Germany 's to Greece …
…
Mr. Trichet lost his patience…"I don't agree with private-sector
involvement,…
…
Mr. Sarkozy said he would accept the private-sector involvement—if Ms. Merkel
dropped her resistance to giving the euro-zone bailout fund broad new powers…